At the day's low of Rs 805.10, the stock had declined nearly 1% before the company made the announcement during trading hours
Meanwhile, the BSE Sensex was down 37.19 points, or 0.22%, to 16,812.41.
On BSE, 6,666 shares were traded in the counter as against an average daily volume of 31,594 shares in the past one quarter.
The stock hit a high of Rs 830 and a low of Rs 805.10 so far during the day. The stock had hit a 52-week high of Rs 891.40 on 27 October 2009 and a 52-week low of Rs 103.20 on 4 December 2008.
The mid-cap stock had underperformed the market over the past one month till 11 November 2009, falling 0.58% as compared to the Sensex's return of 1.24%. It had outperformed the market in the past one quarter, rising 31.74% as compared to the Sensex's return of 11.77%.
The company's equity capital is Rs 26.92 crore. Face value per share is Rs 5.
The current price of Rs 810 discounts the company's Q2 September 2009 annualized EPS of Rs 95.45, by a PE multiple of 8.49.
The company has received final approval from US Food & Drug Administration (US FDA) for its abbreviated new drug application for Perindopril Erbumine tablets in multiple strengths. The drug is the generic version of Solvay Pharmaceuticals' Aceon tablets. The drug is used for treating hypertension. The product will be launched shortly.
Early this week, Aurobindo Pharma received final approvals from the US FDA for two abbreviated new drug applications Cefotaxime for injection USP 500 miligram (mg), 1 gram (g), 2g and Cefotaxime for injection USP 10g pharmacy bulk pack. Cefotaxime is the generic version of Sanofi Aventis US' claforan. The drug falls under the anti-betallactum segment and is ready for launch.
Late last week, Aurobindo Pharma had received approval from US FDA for Lamotrigine tablets in 5 miligram and 25 miligram strengths. Lamotrigine tablet is the generic version of GlaxoSmithKline's Lamictal CD tablets. The drug falls under the central nervous system (CNS) segment.
Aurobindo Pharma had on 19 September 2009 received tentative approval from US FDA or Atomoxetine Hydrochloride capsules in multiple strengths and final approvals for Ribavirin tablets and Ribavirin capsules in 200 miligram (mg) each.
Atomoxetine Hydrochloride is the generic version of Strattera of Eli Lily and Company. The drug is used for treating attention-deficit/ hyperactivity disorder (ADHD) in children aged 6 and older, teens, and adults and falls under the neurological segment. As per Newport, the drug has a market size of approximately $500 million in US market for the twelve months ended March 2009.
Ribavirin tablet is the generic Copegus and Ribavirin Capsules is generic equivalent to Rebetol of Schering Corporation. Ribavirin tablets and capsules are antiviral agents indicated in the treatment for adults with chronic Hepatitis C Virus who have compensated liver disease and have not previously been treated with interferon alpha.
Aurobindo Pharma reported net profit of Rs 128.29 crore in Q2 September 2009 as against a net loss of Rs 38.50 crore in Q2 September 2008. Net sales rose 30% to Rs 826.31 crore in Q2 September 2009 over Q2 September 2008.
During the quarter ended September 2009, the company incurred a foreign exchange loss of Rs 3.70 crore.
Aurobindo, which started off as a supplier of drug raw materials to semi- regulated markets, has moved up the value chain and currently sells finished generic drugs in regulated markets.
Promoters have pledged more than 1.01 crore shares representing 18.86% of the equity capital of the company. Total promoters shareholding in the company is 58.99% (as on 30 September 2009).
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